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Side-by-side financial comparison of IBM (IBM) and Oracle Corporation (ORCL). Click either name above to swap in a different company.
Oracle Corporation is the larger business by last-quarter revenue ($16.1B vs $15.9B, roughly 1.0× IBM). Oracle Corporation runs the higher net margin — 38.2% vs 7.6%, a 30.6% gap on every dollar of revenue. On growth, Oracle Corporation posted the faster year-over-year revenue change (14.2% vs 9.5%). IBM produced more free cash flow last quarter ($2.2B vs $-10.0B). Over the past eight quarters, Oracle Corporation's revenue compounded faster (10.0% CAGR vs 0.5%).
International Business Machines Corporation, doing business as IBM, is an American multinational technology company headquartered in Armonk, New York, and present in over 175 countries. It is a publicly traded company and one of the 30 companies in the Dow Jones Industrial Average. IBM is the largest industrial research organization in the world, with 19 research facilities across a dozen countries; for 29 consecutive years, from 1993 to 2021, it held the record for most annual U.S.
An oracle is a person or thing considered to provide insight, wise counsel or prophetic predictions, most notably including precognition of the future, inspired by deities. If done through occultic means, it is a form of divination.
IBM vs ORCL — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $15.9B | $16.1B |
| Net Profit | $1.2B | $6.1B |
| Gross Margin | 56.2% | — |
| Operating Margin | — | 29.5% |
| Net Margin | 7.6% | 38.2% |
| Revenue YoY | 9.5% | 14.2% |
| Net Profit YoY | 15.3% | 94.7% |
| EPS (diluted) | $1.28 | $2.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $15.9B | — | ||
| Q4 25 | $19.7B | $16.1B | ||
| Q3 25 | $16.3B | $14.9B | ||
| Q2 25 | $17.0B | $15.9B | ||
| Q1 25 | $14.5B | $14.1B | ||
| Q4 24 | $17.6B | $14.1B | ||
| Q3 24 | $15.0B | $13.3B | ||
| Q2 24 | $15.8B | $14.3B |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $5.6B | $6.1B | ||
| Q3 25 | $1.7B | $2.9B | ||
| Q2 25 | $2.2B | $3.4B | ||
| Q1 25 | $1.1B | $2.9B | ||
| Q4 24 | $2.9B | $3.2B | ||
| Q3 24 | $-330.0M | $2.9B | ||
| Q2 24 | $1.8B | $3.1B |
| Q1 26 | 56.2% | — | ||
| Q4 25 | 60.6% | — | ||
| Q3 25 | 57.3% | — | ||
| Q2 25 | 58.8% | — | ||
| Q1 25 | 55.2% | — | ||
| Q4 24 | 59.5% | — | ||
| Q3 24 | 56.3% | — | ||
| Q2 24 | 56.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 21.0% | 29.5% | ||
| Q3 25 | 14.9% | 28.7% | ||
| Q2 25 | 15.3% | 32.1% | ||
| Q1 25 | 8.0% | 30.8% | ||
| Q4 24 | 18.8% | 30.0% | ||
| Q3 24 | -5.4% | 30.0% | ||
| Q2 24 | 14.1% | 32.8% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 28.4% | 38.2% | ||
| Q3 25 | 10.7% | 19.6% | ||
| Q2 25 | 12.9% | 21.5% | ||
| Q1 25 | 7.3% | 20.8% | ||
| Q4 24 | 16.6% | 22.4% | ||
| Q3 24 | -2.2% | 22.0% | ||
| Q2 24 | 11.6% | 22.0% |
| Q1 26 | $1.28 | — | ||
| Q4 25 | $5.90 | $2.10 | ||
| Q3 25 | $1.84 | $1.01 | ||
| Q2 25 | $2.31 | $1.19 | ||
| Q1 25 | $1.12 | $1.02 | ||
| Q4 24 | $3.11 | $1.10 | ||
| Q3 24 | $-0.36 | $1.03 | ||
| Q2 24 | $1.96 | $1.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.8B | $19.2B |
| Total DebtLower is stronger | $66.4B | — |
| Stockholders' EquityBook value | $33.1B | $30.0B |
| Total Assets | $156.2B | $205.0B |
| Debt / EquityLower = less leverage | 2.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $10.8B | — | ||
| Q4 25 | $13.6B | $19.2B | ||
| Q3 25 | $11.6B | $10.4B | ||
| Q2 25 | $11.9B | $10.8B | ||
| Q1 25 | $11.0B | $17.4B | ||
| Q4 24 | $13.9B | $10.9B | ||
| Q3 24 | $13.2B | $10.6B | ||
| Q2 24 | $12.2B | $10.5B |
| Q1 26 | $66.4B | — | ||
| Q4 25 | $54.8B | — | ||
| Q3 25 | $55.2B | — | ||
| Q2 25 | $55.2B | — | ||
| Q1 25 | $56.4B | — | ||
| Q4 24 | $49.9B | — | ||
| Q3 24 | $53.0B | — | ||
| Q2 24 | $52.9B | — |
| Q1 26 | $33.1B | — | ||
| Q4 25 | $32.6B | $30.0B | ||
| Q3 25 | $27.9B | $24.2B | ||
| Q2 25 | $27.5B | $20.5B | ||
| Q1 25 | $26.9B | $16.7B | ||
| Q4 24 | $27.3B | $13.7B | ||
| Q3 24 | $24.4B | $10.8B | ||
| Q2 24 | $24.0B | $8.7B |
| Q1 26 | $156.2B | — | ||
| Q4 25 | $151.9B | $205.0B | ||
| Q3 25 | $146.3B | $180.4B | ||
| Q2 25 | $148.6B | $168.4B | ||
| Q1 25 | $145.7B | $161.4B | ||
| Q4 24 | $137.2B | $148.5B | ||
| Q3 24 | $134.3B | $144.2B | ||
| Q2 24 | $133.8B | $141.0B |
| Q1 26 | 2.01× | — | ||
| Q4 25 | 1.68× | — | ||
| Q3 25 | 1.98× | — | ||
| Q2 25 | 2.01× | — | ||
| Q1 25 | 2.10× | — | ||
| Q4 24 | 1.83× | — | ||
| Q3 24 | 2.17× | — | ||
| Q2 24 | 2.20× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.2B | $2.1B |
| Free Cash FlowOCF − Capex | $2.2B | $-10.0B |
| FCF MarginFCF / Revenue | 13.9% | -62.1% |
| Capex IntensityCapex / Revenue | 2.4% | 74.9% |
| Cash ConversionOCF / Net Profit | 4.25× | 0.34× |
| TTM Free Cash FlowTrailing 4 quarters | $10.2B | $-13.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $5.2B | — | ||
| Q4 25 | $4.0B | $2.1B | ||
| Q3 25 | $3.1B | $8.1B | ||
| Q2 25 | $1.7B | $6.2B | ||
| Q1 25 | $4.4B | $5.9B | ||
| Q4 24 | $4.3B | $1.3B | ||
| Q3 24 | $2.9B | $7.4B | ||
| Q2 24 | $2.1B | $6.1B |
| Q1 26 | $2.2B | — | ||
| Q4 25 | $3.7B | $-10.0B | ||
| Q3 25 | $2.8B | $-362.0M | ||
| Q2 25 | $1.5B | $-2.9B | ||
| Q1 25 | $4.1B | $71.0M | ||
| Q4 24 | $4.0B | $-2.7B | ||
| Q3 24 | $2.6B | $5.1B | ||
| Q2 24 | $1.8B | $3.3B |
| Q1 26 | 13.9% | — | ||
| Q4 25 | 18.6% | -62.1% | ||
| Q3 25 | 17.3% | -2.4% | ||
| Q2 25 | 8.8% | -18.4% | ||
| Q1 25 | 28.4% | 0.5% | ||
| Q4 24 | 22.9% | -19.0% | ||
| Q3 24 | 17.3% | 38.5% | ||
| Q2 24 | 11.7% | 23.0% |
| Q1 26 | 2.4% | — | ||
| Q4 25 | 1.9% | 74.9% | ||
| Q3 25 | 1.6% | 57.0% | ||
| Q2 25 | 1.2% | 57.1% | ||
| Q1 25 | 1.7% | 41.5% | ||
| Q4 24 | 1.7% | 28.2% | ||
| Q3 24 | 1.9% | 17.3% | ||
| Q2 24 | 1.4% | 19.6% |
| Q1 26 | 4.25× | — | ||
| Q4 25 | 0.72× | 0.34× | ||
| Q3 25 | 1.77× | 2.78× | ||
| Q2 25 | 0.78× | 1.80× | ||
| Q1 25 | 4.14× | 2.02× | ||
| Q4 24 | 1.49× | 0.41× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | 1.13× | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IBM
| Software | $7.1B | 44% |
| Consulting | $5.3B | 33% |
| Infrastructure | $3.3B | 21% |
| Financing | $220.0M | 1% |
ORCL
| Software Support | $4.9B | 31% |
| Cloud Infrastructure | $4.1B | 25% |
| Cloud Applications | $3.9B | 24% |
| Services Business | $1.4B | 9% |
| Software License | $939.0M | 6% |
| Hardware Business | $776.0M | 5% |
